Voluntary Saving
Women Saving
Time Deposit
Child Saving (Maleda)
Disability Saving (Yichalal)
Elderly Saving (Efoy)
Savings Account
Savings Account
Savings Account is an interest bearing (minimum 8%), who can fulfill the nisir requirement and are legal.
- Voluntary Saving, Interest rate 10%
- Compulsory Saving, Interest rate 8%
- Child Saving (Maleda), Interest rate 11%
- Women Saving (Alem), Interest rate 11%
- Disability Saving (Yichalal)
- Elderly Saving (Efoy, age >= 55)
Time Deposit Account
Time Deposit Account
Time Deposit Account is interest bearing account opened for a particular period (time) and with interest rate fixed by prior agreement made between Nisir and the customer.
A certificate of deposit (CD) is normally issued only for time deposits. Also called a fixed deposit. 12% interest rate for the deposit amount of greater than birr 25,000.
